Category: Economy
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Recession:CIBN, others harp on empowering non-oil sector
The Chartered Institute of Bankers of Nigeria and some financial analysts on Tuesday said the Federal Government must empower the non-oil sector to prevent sliding into economic recession again. They gave the advice at the Fourth Economic Outlook on Tuesday in Lagos, noting that the economy was still fragile. The News Agency of…
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Gov. Wike presents 2018 Appropriation Bill of N510bn
Gov. Nyesom Wike of Rivers on Thursday presented the 2018 Appropriation Bill of N510 billion to the State House of Assembly. The bill tagged, “Budget of Consolidation and Empowerment, ” was presented during plenary. The governor said that the bill when signed into law would improve key sectors of the state’s economy. He said in…
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Gas explosion: Community leader attributes incident to NGC negligence
A community leader has attributed the massive gas explosion that rocked some communities in parts of Delta state early hours of today to negligence on the part of the Nigerian Gas Company (NGC). TheNewsGuru reports some communities surrounding the Warri Refinery and Petrochemical Company (WRPC) and the Nigerian Gas Company (NGC) were thrown into pandemonium…
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JAMB earmarks N7.744bn overhead, N2.683bn projects, reduces TSA remittance
The Joint Admission and Matriculation Board (JAMB) said it has earmarked the sum of N2.683 billion for capital projects, which it said has affected how much it will remit into the federation account. JAMB Registrar, Professor Ishaq Oloyede, stated this while appearing before the Senate committee on Monday. He disclosed that the examination body would…
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NNPC restores Escravos-Lagos pipeline, resumes gas supply
The Nigerian National Petroleum Corporation (NNPC) on Monday said the Escravos-Lagos Pipeline (ELP), which got burnt by a fire, had been restored. A statement in Abuja by the NNPC spokesman, Mr Ndu Ughamadu, said that gas supply to customers on the line, including power generating companies, had resumed. A section of the ELP at Abakila…
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Fuel crisis: Buhari, APC wrecking the economy – PDP
The Peoples’ Democratic Party (PDP) has said the failure of the President Muhammadu Buhari-led Ministry of Petroleum Resources to find any solution to the biting fuel crisis in the country has wrecked the nation’s economy. The party stated this in a press release signed by its National Publicity Secretary, Kola Ologbondiyan. “It is now clear…
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FG targets technology-based economy by 2030
The Federal Government says it is fully committed to revamping the nation’s economy from a resource-base to a science and technology-based economy by 2030. Minister of Science and Technology, Dr Ogbonnaya Onu, gave the assurance at the South-South Sensitisation to the National Science, Technology and Innovation Roadmap (NSTIR) 2030 on Friday in Port Harcourt. He…
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Pay your tax, Gov Bindow pleads with Adamawa people
Gov. Muhammadu Bindow of Adamawa has pleaded with the people of the state to show patriotism by paying their tax and supporting the government’s effort to boost its internally generated revenue. Bindow made the appeal on Tuesday in Yola during a live programme in a local television station, Gotel TV. He said his administration was…
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French govt. invested N150 billion in Nigeria – Ambassador
The Ambassador of the Federal Republic of Nigeria to France, Dr Modupe Irele, on Tuesday announced that France invested about N150 billion(350 million euros) in Nigeria in 2017. Irele told the News Agency of Nigeria (NAN) in Lagos that the amount was disbursed as soft loans to the Federal and State Governments,as well as the…